Page 12A - THE KINGS MOUNTAIN HERALD - Thursday; October 19, 1995
From Page 1-A
quarter of the year after City
Council instituted a spending
freeze after Mr. Wood resigned
"If Mr. Wood's budget had been
on target the underspending figures
would be much higher," she said.
"We actually had no money to
transfer into the general fund from
other accounts and we got further
and further in the hole."
: Balance sheets in the city fi-
nance department show that at June
30, 1995 the city had $1.5 million
in the bank and the budget pre-
pared by Parsons was underspent
| by $1.7 million.
But Wood says that if the city"
had not raised property taxes and
water and sewer rates that the bud-
get would still be underspent by
The general fund won't have an
eight percent fund balance as the *
«tate has mandated this year but the
Powell Bill is continuing to grow *
and was underspent in the budget
by a quarter of a million dollars.
Wood maintains that salaries of :
street maintenance crews can be
From Page 11-A
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: paid from the Powell bill instead of
the general fund and the general
fund would not be anemic.
"With $1.5 million in the bank at
least $350,000 could be transferred
to the general fund," he maintains.
But both Auditor Darrell Keller
and Parsons disagree, saying that at
least a half milion dollars is re-
stricted money, $400,000 plus to be
spent on the Powell bill and
$90,000 in cemetery funds for cap-
ital outlay and unavailable for nor-
mal operations of the city.
Wood said the city can transfer
legally from the three utility funds
to the general fund with a budget
amendment which the Council has
not elected to do. The Local
Government Commission has
rapped the city several times for
transferring from one fund to the
other and last year the city's bond
Parsons says the funds have to
have the cash available to transfer
from one to the other. Last year she
said transfers could not be made
for lack of cash in three utility
funds. She said both the gas and
electric funds had to borrow a total
of $500,000 from the water/sewer
fund and that the city had not met
the state's criteria for switching
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from one fund to the other in four
"He's talking paper entries," she
"Underspending the budget isn't
money in the bank."
Wood says he agrees with the
Management Association that
when city managers leave a city for
other employment that they should
refrain from interfering and he has
never before lodged complaints or
questions after he left a city.
"I would not have become in-
volved with Kings Mountain had
not I felt the public was misled and
the audit proves me right." :
Last year audit revenues exceed-
ed expenditures of $1.7 million, he
"Maxine filed the complaint
against me because I exposed the
facts," said Wood.
Parsons said that she filed the
complaint because she felt it im-
proper for her former employer to
go over her head to ask for finan-
cial information from other em-
ployees and from the mayor and
some members of Council.
"George left the city March 23,
1994 and then immediately starting
faxing the city clerk and others for
financial information," she satd.
"I was in charge and he should
have talked to me and he did not.,"
The. line items at June 30, 1995
include general fund, cash line
item, negative $896,430.76; N. C.
Cash Management trust account,
plus $993,341.78; Powell Bill,
$429,289.04; water and sewer
fund, $988,341.78; electricity,
$17,690.99; gas fund, $23,505.39;
sanitation fund, $16,969.86; ceme-
tery fund, $97,910.92; for a total at
June 30, 1995 of $1.7.
The 1994-95 budget prepared by
Parsons was accepted by the Local
Government Commission which
sent representatives to Kings
Mountain twice last year for a bud-
‘get workshop and a budget hear-
ing. A second budget proposed by
Mayor Scott Neisler was turned
down by the LGC which instructed
Council to "stay on course" and
shoot for an 8 percent fund bal-
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